The GBP/USD cross has not given up its bullish intentions as it continues to challenge the upper trend-line and the weekly PP located at 1.5697.
EUR/USD currency pair has jumped considerably during the trading session on Thursday, just after Mario Draghi's comments on the QE.
Today the NZD/USD cross has not changed substantially; although, it continues to decline gradually.
The pair once again is being supported by the weekly and monthly PPs at 1.1362/59. Nonetheless, it does not necessarily mean that the pair has lost its bullish steam.
The Australian Dollar is continuing to decline relative to the US currency; moreover, the pair has retreated below the 0.84 level.
The Euro/Yen pair has been very calm through this week, as it continues to trade below the 148 level.
XAU/USD continues trading around the major level of $1,200 for a third day in a row.
The US Dollar has strengthened its positions above the 119 level and is nearing the psychological level at 120.
The GBP/USD cross did not change dramatically in value yesterday; however, it has slipped below the weekly PP at 1.5697.
EUR/USD has just crossed one of the most important support levels, represented by the 2014 low.
As expected the pair continues its retreat, it approached the weekly S1 at 0.7774 today.
After the strong performance by the US Dollar yesterday, the pair is declining again.
The Australian Dollar continues its downward movement by approaching the weekly and monthly S1s at 0.8427/0.8395.
EUR/JPY has slipped lower once again, after it failed to consolidate above the 148 mark yesterday.
"FOMC members are a little bit challenged by the fear that they don't want to rattle markets. It makes sense for them to proceed with caution." - Deutsche Bank (based on Bloomberg)Pair's OutlookAfter a dive beneath the weekly PP at 1.5697, even the cluster of SMAs did not help to hold the pair near the 1.57 mark. Now the pair is
"I don't see any major upside - turnout is expected to be at a historical low, and the markets will take that as a sign that voters aren't convinced about Abe's economic policies."- Daiwa (based on CNBC)Pair's OutlookUSD/JPY has managed to surpass the 119 level that remained unbeaten beforehand. Currently, the pair is hovering around the weekly R1 that is
"The dollar's strength is gold's biggest enemy. Investors are wondering whether yesterday's rally in oil prices was a dead-cat bounce."- Infinity Trading Corp. (based on Bloomberg)Pair's OutlookXAU/USD cross continued hovering slightly above the $1,200 threshold, which is supported by the weekly R1 at $1,192 from the south. At the same time, we predict the bears to succeed in crossing this
"If unemployment continues to decline, if the labor market continues to strengthen and if we see some signs of inflation beginning to increase, then the natural thing is to get the interest rate up."- Stanley Fischer, Federal Reserve Vice Chairman (based on MarketWatch)Pair's OutlookEUR/USD is approaching a decision-making point inside the triangle pattern, as it has neared the 2014 low
The pair has not managed to prolong yesterday's advance and it seems somewhat stuck between the weekly/monthly PPs and 55-day SMA.
At the second part of yesterday's trading day selling pressure gained momentum and accordingly USD/CAD dropped below the weekly and monthly PP; however, the decline was stopped by the 20-day SMA at 1.1328.
The Australian Dollar failed to consolidate above the 0.85 earlier today, when the currency rose against the US peer.
The 18-nation currency's bulls are actively trying to push the pair above the major level at 148.
"What brought gold back was there are three continents that have to stimulate their economies. We not only saw softness in Europe with the PMIs, we saw softness in Japan."- RBC (based on CNBC)Pair's OutlookThe bullion for immediate delivery climbed 3.8% to hit the daily maximum at $1,221 per ounce on Monday. It seems that daily pivot points were too
"With the effect of the sales tax hike, I don't see real wages rising in the financial year through April."- Mizuho Securities Co. (based on Bloomberg)Pair's OutlookUSD/JPY struggled to remain above 118 level yesterday; however, with a help of the weekly PP and 100/200-period SMAs the US Dollar is still trading above the trend-line. Now the pair is climbing towards